Michigan Compiled Laws Act 341 Of 1984 Farm And Utility Equipment Act (445.1451 - 445.1460)

AN ACT to provide for the compensation for or repurchase of certain farm tractors, attachments, equipment, and utility tractors and equipment by certain manufacturers or suppliers subject to certain dealer, wholesaler, or distributor agreements; to provide for the repurchase of certain repair parts; to impose certain duties and responsibilities on certain persons; and to provide certain remedies.

History: 1984, Act 341, Imd. Eff. Dec. 27, 1984 ;-- Am. 1989, Act 296, Imd. Eff. Jan. 3, 1990 ;-- Am. 1995, Act 86, Imd. Eff. June 20, 1995

Section 445.1451 Short Title.
This act shall be known and may be cited as the “farm and utility equipment act”. History: 1984, Act 341, Imd. Eff. Dec 27,...
Section 445.1452 Definitions.
As used in this act unless the context clearly requires otherwise: (a) “Attachments” means machinery or any part of a piece of machinery designed...
Section 445.1453 Repurchase Of Inventory On Termination Of Agreement; Election To Keep Inventory.
If a dealer enters into an agreement with a supplier and the agreement is subsequently terminated, the supplier shall repurchase any inventory of the...
Section 445.1454 Repurchase Amount; Handling, Packing, And Loading; Effect Of Payment; Subtraction Of Debts; Shipment; Undeliverable Or Unaccepted Goods; Notice Of Intent To Return; Duties Of Supplier; Duties Of Escrow Agent; Warranty Claims.
(1) The supplier shall pay 100% of the net cost of all undamaged and complete tractors, equipment, and attachments, which were purchased within 30...
Section 445.1455 Provisions Supplemental; Election Of Remedies; Effect Of Electing Contract Remedy; Charge Back.
(1) The provisions of this act are supplemental to any agreement between the dealer and the supplier governing the return of inventory and the...
Section 445.1456 Exceptions To Repurchase Requirement.
The provisions of this act shall not require the repurchase of the following by a supplier from a dealer: (a) Any perishable repair part...
Section 445.1457 Liability Of Supplier Or Manufacturer Failing Or Refusing To Pay Or Credit Account Of Dealer; Right Of Dealer To Bring Action.
(1) If any supplier fails or refuses to pay or credit the account of the dealer for any inventory required to be repurchased by...
Section 445.1457a Notice Of Termination, Cancellation, Nonrenewal, Or Substantial Change In Competitive Circumstances.
(1) A supplier shall not terminate, cancel, fail to renew, or substantially change the competitive circumstances of an agreement without good cause. A supplier...
Section 445.1458 Death Of Dealer Or Majority Stockholder Or Partner; Options Of Heirs; Time Limitation; New Franchise Agreement.
(1) Upon the death of the dealer or the majority stockholder of a corporation or a partner in a partnership operating as a dealer,...
Section 445.1459 Security Interest In Inventory Not Affected.
The provisions of this act shall not be construed to affect in any way any security interest that any financial institution, person, or supplier...
Section 445.1460 Applicability Of Act.
The provisions of this act shall apply to all agreements, contracts, sales agreements, security agreements, or franchise agreements written or implied in force and...

Last modified: October 10, 2016